Paying property management fees for someone else to manage your rental property can save you time and money. Management fees are typically between 4% and 10% of gross monthly rent, plus fees. Some companies charge a flat monthly rate of $100 or more. Fees include advertising, screening tenants, handling leases, coordinating repairs, and responding to…
What Does a Property Management Company Do & When to Hire One
Property management companies are great for investors who want to be less hands-on or who live far from their rental properties. What a property management company does to help investors is they manage the day-to-day operations of rental property. Depending on the property, management companies typically charge between 4% and 10% of gross monthly rent….
Rental Property Maintenance: The Ultimate Guide
If you want to make money owning and renting out real estate, it’s important to take care of your rentals. Rental property maintenance is a key part of managing your portfolio and protecting property values. Rental maintenance is typically divided into five main areas including interior and exterior maintenance and move-in/move-out maintenance. Be sure to…
Interest Rate vs APR: How They Differ & When They’re Used
An annual percentage rate (APR) and interest rate both represent the annual cost of borrowing as a percentage of the borrowed amount. Lenders use your interest rate to calculate monthly payments and disclose the APR. APR includes some fees in addition to interest resulting in a more comprehensive annualized cost of borrowing. What an Interest…
Top 25 Tips for Selling a Rental Property From the Pros
There are many reasons why long-term real estate investors sell a rental property. Unfortunately, selling a rental property can be just as challenging as managing it – but there are tips and tricks to make the process easier and smoother. These experts share how and when to sell a rental property for a profit. Here…
Top 20 Signs You Hired a Bad Contractor
Working with the right contractor is crucial to every real estate investor’s profitability and success. You risk wasting your time and money if you work with the wrong contractor. We spoke with industry pros to determine the top warning signs of a bad contractor to be aware of when hiring. Here are the 20 signs…
25 Fix & Flip Projects to Avoid From the Pros
The most successful flips are those projects that maximize profitability. However, choosing the wrong projects can increase your cost and lower the return on investment (ROI) of your fix and flip project. We talked to the pros and found the top fix and flip projects to avoid if you want to maximize profits. Here are…
Real Estate Investing for Beginners
Real estate investing is a way to build wealth, generate passive income, and take advantage of numerous tax benefits. Becoming an investor requires some education about the business, upfront capital, and the ability to use leverage to your advantage. Real estate investing for beginners usually requires $5,000 to get started. How Real Estate Investing Works…
Learning How to Invest in Real Estate
Investing successfully in real estate requires thought and careful planning. Learning how to invest in real estate successfully requires understanding the different types of investments available and how they work. We researched the top real estate investing education resources and came up with the best six for would-be investors. 6 Types of Real Estate Investing…
Adjustable Rate Mortgage Calculator
This ARM calculator shows a fully amortizing ARM, which is the most common type of adjustable rate mortgage. The monthly payment is calculated to pay off the entire mortgage balance at the end of the term. Some things to keep in mind when using our free adjustable rate mortgage calculator: Term: The term is…
Free House Flipping Calculator: Cost, Profit & ROI
How to Read Your House Flipping Calculator Results Closing Costs: If you’re not sure about how much your closing costs are, the average ranges from 2 percent to 5 percent of the purchase price. Average ROI on Flipping a House: Fifteen percent is the average and anything above that is typically considered good. Next…
Top 12 Rental Property Tax Deductions & Benefits [+ Free Worksheet]
The IRS allows you to take tax deductions for any legitimate expense related to running a rental property. If you own rentals, you can claim expenses in 12 categories spanning everything from interest, to insurance, repairs, and depreciation. However, you must record them, according to IRS guidelines. To fulfill your tax and bookkeeping needs, it’s…